Ancestors

Toot

Written by Dana Fried on 2025-02-03 at 13:09

Over $1T of stock value was destroyed overnight as a result of recent actions by the US. More is likely to come.

I feel not for the investors, but for the millions of people who work in farming, shipping, retail, and manufacturing worldwide whose livelihoods will be negatively affected by these pointless and destructive actions.

The only silver lining is that, having read Piketty, I understand that a lot of capital just needs to be burned if we are to have a chance to preserve democracy.

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Descendants

Written by Kit Rhett Aultman on 2025-02-03 at 14:08

@tess There are plenty of ordinary people's savings and retirements tied up in those investments too.

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Written by Dana Fried on 2025-02-03 at 14:17

@roadriverrail for example: mine.

Everyone is going to get hurt. But some people are going to lose their jobs this week and be staring down the barrel of homelessness and starvation - many of them in a country where social services have been suddenly defunded.

This is going to be a brutal week for everyone, but working Americans and immigrants are going to bear the worst of it.

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Written by Kit Rhett Aultman on 2025-02-03 at 14:35

@tess no doubt. I was responding more to the language that I'd read as denoting "investors" as a group apart.

And, personally, that's my "get my family out of the country" money. 😅

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